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TheStreet Open House

Stocks Finish Mixed as Commodities Surge

Australian miner Riversdale Mining said it has been approached by Rio Tinto (RIO) about a takeover offer of 15 Australian dollars a share ($14.81), or $3.5 billion. Rio's stock rose 0.3% at $70.34.

Dollar General (DG) shed 7.3% to $30.94 after its profits grew more slowly than expected.

Dryships (DRYS)shares pushed higher by 5.7% to $6.21 amid heavy trading after the drybulk shipper said Friday its offshore drilling subsidiary plans to raise $500 million in a private offering.

Shares of First BanCorp (FBP) soared 13.5% to $0.30 after the company's management rejected an unsolicited buyout offer from Doral Financial (DRL) which is also headquartered in San Juan.

Kraft (KFT) is suing Starbucks (SBUX) to obtain a preliminary injunction to stop the coffee chain from violating a distribution agreement . Shares of Kraft were off by 0.1% at $30.20, while the stock of Starbucks were unchanged at $32.72.

In commodity markets, the January crude oil contract rose 19 cents to settle at $89.38 a barrel. The most actively traded February gold contract was up by $9.90 to settle at $1,415.60 an ounce, giving up some of its earlier gains.

The dollar traded higher against a basket of currencies, with the dollar index up by 0.3%; the benchmark 10-year Treasury note strengthened 21/32, diluting the yield to 2.931%.

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--Written by Melinda Peer and Shanthi Bharatwaj in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
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